12 July 2018

Egypt to Develop Technological Investment Zones, Support Young Innovators

Egypt will work on developing the technological investment zones, supporting young innovators and mechanizing investors' centers in various governorates.

Ministers Sahar Nasr of Investment and International Cooperation and Amr Talaat of Communications and IT agreed on boosting bilateral cooperation in this respect, according to a statement released by the Investment Ministry on Thursday.

The two sides also agreed on supporting young innovators in tandem with the Egyptian Entrepreneurship Investment Company (EEIC).

Nasr underlined the importance of cooperation with the Communications Ministry to mechanize services, a matter which can largely contribute to improving the investment climate and the services offered to investors in addition to raising Egypt's ranking in international indices.

She added that the two ministries would cooperate to place communication and IT investment opportunities on Egypt's investment map.

Talaat underlined that the communications and IT sector is rich with investment opportunities for which the Investment Ministry can promote.He stressed the importance of supporting innovation and startup companies to push forward the sustainable development process.

After the meeting, the two ministers inspected an investors' services center. Talaat listened to a briefing on the services provided by the place which aims to reduce bureaucratic measures and offer electronic services to investors.

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